15 Saudi firms find place in top DS100 ranking for 2006

JEDDAH — With $944 billion in total revenues and 37 per cent in revenue growth over the previous year's $688 billion, Muslim world economy is getting stronger, according to the Dinar Standard's DS100 rankings by Dinar Standard, the US-based business strategy e-magazine.

By Habib Shaikh

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Published: Tue 13 Feb 2007, 9:12 AM

Last updated: Sat 4 Apr 2015, 9:54 PM

Fifteen Saudi companies maintained their presence in the top DS100 ranking for 2006.

The ranking, which is based on end of 2005 revenue figures, showed strong growth in all industries, but the integrated oil and gas companies led this growth at 42 per cent from the year before riding on a 40 per cent rise in the oil spot price.

Saudi Aramco, the world's top oil producer, continues to lead the DS100 list as the largest business enterprise in the Muslim world with an estimated 49 per cent rise in its revenues from the previous year.

The other Saudi companies on the list with their rank in brackets are: Kingdom Holding Company (11), Saudi Basic Industries Corporation, or SABIC (13), Saudi Telecom Company (22), Dallah Albaraka Group (34), Saudi Electricity Company (36), Saudi Binladin Group (38), Saad Group of Companies (42), Saudi Oger Company Limited (52), Abdul Latif Jameel Group (53), Consolidated Contractors International Company (57), Al Rajhi Bank (75), Samba Financial Group (77), National Commercial Bank (82) and Savola Group (87).

Companies from 19 out of the 57 Organisation of the Islamic Conference (OIC) countries are on the DS100. Turkey dominated the 2006 DS100 list with 26 companies, followed by Malaysia 17, Saudi Arabia 15, Indonesia 10, UAE 6, Egypt 5, Iran and Kuwait 3 each, Qatar, Oman, Pakistan and Kazakhstan 2 each and Algeria, Azerbaijan, Iraq, Libya, Nigeria, Syria and Morocco one each.

SABIC, the Middle East's largest non-oil industrial company leads the list of publicly traded companies followed by the Turkish giant Koc Holding.

Fifty-five of the 100 companies on the DS100 are publicly traded firms in 11 different countries. While a majority of the companies on the DS100 are publicly traded, the bulk of the total revenue, more than 67 per cent, is attributed to the 28 government-owned companies on the list.

In spite of the energy sector's dominance, strong growth performances were also logged by the construction (36 per cent), food processing (30 per cent), transportation (23 per cent), and telecom (20 per cent) sectors.

"This year's list represents a mere 10 per cent of the $9.2 trillion in revenues attributed to the global 100 companies from Fortune magazine's 2006 Global 500 list. However, a higher revenue growth of 37 per cent by DS100 companies against the world 100's revenue growth of 14 per cent is a positive sign," said Rafi-uddin Shikoh, Editor and founder of Dinar Standard.

Petronas (Malaysia), SABIC (Saudi Arabia), and KOC Holding (Turkey) are the only three DS100 companies also on the Fortune 500 Global list.

"In today's global environment, leadership of the biggest enterprises within OIC member states plays a significant role in raising the competitiveness bar within each country," Shikoh added.

"Strategic priorities of the DS100 companies in context of regional and even global play through either organic market expansion or acquisitions should continue to secure a positive trajectory," he said.

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